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“Energy is a sector of the economy that has been particularly resistant to innovation. This is precisely the problem. It is why we are still dependant on energy sources that are 100 to 150 years old while virtually every other sector of the economy has transformed itself. This is why we believe that the faith that many environmentalists still hold that carbon regulations and taxes will drive sufficient private sector investment into energy markets to create the kind of innovation we need is unfounded.” — Ted Nordhaus
Energy is a sector of the economy that has been particularly resistant to innovation. This is precisely the problem. It is why we are still dependant on energy sources that are 100 to 150 years old while virtually every other sector of the economy has transformed itself. This is why we believe that the faith that many environmentalists still hold that carbon regulations and taxes will drive sufficient private sector investment into energy markets to create the kind of innovation we need is unfounded.